The real problem facing Ontario's factories: Markets are moving south

Monday, March 17, 2014

OpEd by Professor Bryne Purchase on the problems facing manufacturing in Ontario, in Monday's Globe and Mail.

"The announcement by Fiat Chrysler CEO Sergio Marchionne that his company was no longer seeking $700-million in federal and provincial government largesse was clearly a shock to the two governments. But it was also a defining moment in Ontario’s political economy.

It is pretty certain that the two governments were trying to get some specific long-term commitments. But Fiat Chrysler chose this moment to reveal a fundamental truth.

When it comes to global corporations, hundreds of millions of government dollars won’t buy you much anymore, if they ever did. And they certainly won’t buy you any concrete promises for the future."